Zimbabwe [state buyer/exporter (FGR) or gold dealing licensee] → Australia (refine) → United Arab Emirates · Reconcile assays and pay the balance

Register as an exporter in CEPECS through the authorised dealer

من

Gold exporter (FGR or other gold dealing licence holder with RBZ approval)

يُصدر

CEPECS exporter registration

• RBZ Foreign Exchange Guidelines FXD5/2026 (version 2.0, March 2026), para 3.2.1

Obtain the Gold Export Certificate for the lot

من

Gold exporter (FGR or other gold dealing licence holder with RBZ approval)

يُصدر

Gold Export Certificate

[unconfirmed] Issuer and form of the 'Gold Export Certificate' are stated in no text held (FX Guidelines, Gold Trade Act and Regulations, Exchange Control Regulations and General Order all read); requested (zw.gap-gec).

Prepare assays and a pro-forma invoice showing the quantity, price and total value of the gold

من

Gold exporter (FGR or other gold dealing licence holder with RBZ approval)

يتطلب

FGR bar list for the export lot

يُصدر

Assays supporting the RBZ export application; Pro-forma invoice: quantity, price and total value of gold to be exported (FXG 3.2.30)

• RBZ Foreign Exchange Guidelines FXD5/2026 (version 2.0, March 2026), para 3.2.30

Submit the export application on the RBZ Document Management System with the Gold Export Certificate, Gold Dealership Licence, assays and pro-forma invoice

من

Authorised dealer bank

يتطلب

Gold Export Certificate; Gold dealing licence ('Gold Dealership Licence'); Assays supporting the RBZ export application; Pro-forma invoice: quantity, price and total value of gold to be exported (FXG 3.2.30); CEPECS exporter registration

• Exchange Control Regulations SI 109/1996; RBZ Foreign Exchange Guidelines FXD5/2026, Regulations s.20(1)(e) (no export of gold unless authorised by an exchange control authority); Guidelines para 3.2.30 ('All exports of Gold require prior Reserve Bank approval')

Approve the gold export within 24 working hours and issue an approval reference number

من

Reserve Bank of Zimbabwe

يُصدر

RBZ gold export approval (approval reference number on the Document Management System)

• RBZ Foreign Exchange Guidelines FXD5/2026 (version 2.0, March 2026), para 3.2.30

Raise the CEPECS Form CD1 quoting the RBZ approval reference

من

Authorised dealer bank

يتطلب

RBZ gold export approval (approval reference number on the Document Management System)

يُصدر

CEPECS Form CD1 (exchange control export form)

• RBZ Foreign Exchange Guidelines FXD5/2026 (version 2.0, March 2026), paras 3.2.5, 3.2.30

Issue the commercial invoice to the foreign buyer/refiner (attached to the export entry)

من

Gold exporter (FGR or other gold dealing licence holder with RBZ approval)

يُصدر

Commercial invoice

ZIMRA lists 'Suppliers' invoices' for the export entry; the pro-forma invoice goes to the RBZ (3.2.30). [blocked] ZIMRA page via WebFetch only.

Lodge the export bill of entry (Form 21) through a registered clearing agent in ASYCUDA World before the gold leaves, with the CEPECS Form CD1, the invoice and the RBZ approval; pay the clearance fee - 'No duties are payable on export'

من

Gold exporter (FGR or other gold dealing licence holder with RBZ approval)

يتطلب

CEPECS Form CD1 (exchange control export form); RBZ gold export approval (approval reference number on the Document Management System); Commercial invoice

يُصدر

Customs export bill of entry (Form 21, lodged in ASYCUDA World)

[blocked] The ZIMRA clearance page was read only through WebFetch. [unconfirmed] Any gold-specific customs examination is not described.

• Customs and Excise Act [Chapter 23:02]; Customs and Excise (General) Regulations 2001, Act s.54(1), s.61; Regulations s.62(1)(a); Exchange Control Regulations s.21

Where the buyer or the importing country's customs requires one (e.g. the UAE import declaration, ae.st-18), obtain a certificate of origin from the Zimbabwe National Chamber of Commerce on its form: the exporter declares 'that all the goods are of ZIMBABWE ORIGIN' and the chamber certifies it; the form carries the invoice, consignee and destination, transport, tariff number, description, net weight and the bill of entry number

من

Gold exporter (FGR or other gold dealing licence holder with RBZ approval)

يتطلب

Commercial invoice; Customs export bill of entry (Form 21, lodged in ASYCUDA World)

يُصدر

ZNCC certificate of origin for the gold consignment

ZNCC's own form read in full (a chamber, not a regulator). [unconfirmed] Whether FGR or other gold exporters obtain one in practice, its fee and turnaround were not found (requested from ZNCC). [inferred] Treated as optional: no Zimbabwean export rule requires it. [blocked] ZIMRA origin page via WebFetch only.

• Customs and Excise Act [Chapter 23:02]; Customs and Excise (General) Regulations 2001, Act s.89(1)(a) ('wholly grown or produced' test for unmanufactured goods); Regulations s.25 (certificates of origin for lower duty - imports)

An officer authorises loading by stamping the consignment note or air waybill; the airline accepts the sealed consignment as valuable cargo under the air waybill and the gold must leave Zimbabwe within ten days of the authority

من

Secure logistics provider / airline

يتطلب

Customs export bill of entry (Form 21, lodged in ASYCUDA World)

يُصدر

Air waybill

[inferred] Air freight from Harare is assumed; no Zimbabwe source names the route or carriers.

• Customs and Excise (General) Regulations 2001; Customs and Excise Act, Regulations s.63(1), (3); Act s.55(1)

Onboard the foreign supplier: KYC, origin and chain-of-custody documents, export authorisation of the origin country, under LBMA RGG

من

Australian gold refiner (LBMA Good Delivery-listed)

يُصدر

Supplier KYC pack for imported doré/scrap

RGG duties inferred from GD status; no Australian statute imposes refiner origin checks.

Screen for Russian-origin gold: import, purchase or transport of Russian gold exported after 30 Sep 2022 is prohibited without a sanctions permit

من

Importer of doré or bullion (usually the refiner or a dealer)

يُصدر

Screen for Russian-origin gold

• Autonomous Sanctions Regulations 2011 regs 4A, 12A, 18(1)(b); Import Sanctioned Goods-Russia Designation 2022 Sch 1 item 16

Lodge the import declaration (entry for home consumption) in the Integrated Cargo System for consignments above the entry thresholds; customs duty Free for 7108 and 7112.91; importation of precious metal (99.5%+, investment form) is a non-taxable importation for GST; dore is a taxable importation (GST 10% of the value of the taxable importation)

من

Licensed customs broker

يتطلب

Screen for Russian-origin gold; Export customs declaration accepted by the dispatching country's customs; Air waybill; Commercial invoice

يُصدر

Import declaration, HS 7108 / 7112.91

[inferred] GST on imported dore follows from ss.13-5/13-10 with the precious-metal definition; [not-read] duty rate from the ABF tariff page, not the Act.

• Customs Act 1901 ss.68, 71A; Customs Tariff Act 1995 Sch 3; GST Act 1999 ss.13-5, 13-10, 13-20

Refine doré to 999.9 kilobars/minted bars or 995+ Good Delivery bars; cast, mark (refiner mark, serial, fineness) and record

من

Australian gold refiner (LBMA Good Delivery-listed)

يتطلب

Outturn / assay statement

يُصدر

Bar list for refined bars

الشكل

Doré bar - unstamped → 999.9 kilobar

Maintain LBMA Good Delivery and RGG compliance; publish the annual RGG compliance report with independent assurance

من

Australian gold refiner (LBMA Good Delivery-listed)

يُصدر

Refiner RGG report and assurance

Report suspicious matters to AUSTRAC (refiner bullion business is a reporting entity)

من

Australian gold refiner (LBMA Good Delivery-listed)

يُصدر

Suspicious matter report

[inferred] The refiner is a reporting entity because it buys and sells bullion in a bullion-dealing business (s.6 table 2 item 1); the Perth Mint enforceable undertaking confirms it for that refiner.

• AML/CTF Act 2006, s.6(3) table 2 item 1; s.41

Hold bars in allocated or unallocated metal accounts; for the Perth Mint, metal liabilities carry the WA Treasurer's guarantee

من

Depository / vault operator (metal accounts)

يتطلب

Bar list for refined bars

يُصدر

Metal account statement

Metal-account practice from the Perth Mint pages; the guarantee itself read in s.22 (cash equivalent of gold due, payable and deliverable under the Act and currency-dealing moneys).

• Gold Corporation Act 1987 (WA), s.22

Keep origin records for imported material: under LBMA RGG the mine remains the origin of gold refined in Australia

من

Australian gold refiner (LBMA Good Delivery-listed)

يتطلب

Supplier KYC pack for imported doré/scrap

RGG origin rule not re-read here.

Prepare commercial invoice and bar list; no export permit or licence is required for gold

من

Exporter of bars (refiner, dealer or miner selling offshore)

يتطلب

Bar list for refined bars

يُصدر

Commercial invoice (GST-free / input-taxed treatment stated)

[inferred] Absence of a gold export permit read from the Regulations as a whole; commercial invoice and bar list are commercial practice.

• Customs (Prohibited Exports) Regulations 1958 (no gold item)

Lodge the export declaration in the Integrated Cargo System (required for consignments above $2,000 FOB) and obtain the export entry advice (authority to deal) with its number before loading; a declaration may be refused if the intended export day is more than 6 months ahead; if not exported within 30 days of the intended day, withdraw or amend within 7 days; keep commercial documents 5 years

من

Licensed customs broker

يتطلب

Commercial invoice (GST-free / input-taxed treatment stated)

يُصدر

Export declaration and export entry advice (authority to deal, with export entry advice number)

• Customs Act 1901, ss.113, 114, 114C, 116, 240(1A); Customs Regulation 2015 r. 82

  “an FOB value not exceeding $2,000 or such other amount as is prescribed”

Obtain a certificate of origin only if the buyer or the destination requires one (e.g. to claim an FTA preference); an exporter claiming Australian origin for a preferential tariff in China, Hong Kong or the UK may be required by the ABF to produce origin records and answer questions for verification by the importing customs

من

Exporter of bars (refiner, dealer or miner selling offshore)

يُصدر

Certificate of origin (on request)

[not-read] Issuing bodies and forms for certificates of origin not researched (au.gap-cert-origin); no Australian export rule requires one for gold.

• Customs Act 1901, Divisions 4J, 4K, 4M (ss.126AOA-126AOD, 126APA-126APD, 126ARA-126ARD)

Ship by secure air freight under air waybill

من

Secure precious-metals carrier / airline

يتطلب

Export declaration and export entry advice (authority to deal, with export entry advice number)

يُصدر

Air waybill

Carrier practice not documented in the sources read.

Pre-contract KYC on the Nigerian exporter: corporate docs, UBO, MBC/export-permit evidence, mine-of-origin declaration

من

DMCC importer / trader

يتطلب

Bank-to-bank reference confirmation (not a public letter) on the Nigerian exporter

يُصدر

Importer's KYC/due-diligence pack on the Nigerian exporter; Evidence pack from the Nigerian exporter: export licence/permit, mine location, legal existence of the ASM operation

[conflict] For an ordinary DMCC trader the binding CDD duties are those of CR 134/2025 (Arts. 5-14); DMCC RBD-GPM binds only its Accredited Members (see ae.div-dmcc-role). [inferred] "Highest-scrutiny category" for ASM is the model's reading of Rule 1.6, not a phrase in the Rules.

• DMCC RBD-GPM Rules v2/2020; Cabinet Resolution 134/2025, DMCC Rules 1.4-1.8 (KYC; Rule 1.6 specific requirements for ASM supply), Rules 2.4-2.8 (red flags); CR 134 Art. 25(1) (records at least 5 years)

File the Dubai Customs declaration on Mirsal 2 with invoice, packing list, certificate of origin and air waybill (for a free-zone consignee the Customer Guide's 'FZ Transit In' type appears to apply, not import to local); disclose the precious metals crossing the border

من

DMCC importer / trader

يتطلب

Air waybill; Certificate of origin; Origin country's export authorisation for the gold (permit, licence or clearance issued by the mining or trade authority); Commercial invoice; Packing list

يُصدر

Dubai Customs declaration filed online (for goods entering a free zone: "FZ Transit In"); Disclosure of precious metals crossing the UAE border (cargo included)

No UAE import permit for gold: Dubai Customs lists DMCC as restricting authority only for "Pearls, Diamonds, Rough Diamonds etc." (Customer Guide App. I). FZ Transit In (s.15.12.2): "foreign goods originated from any country may be brought into the free zones without being subject to customs duties or taxes. The owner of the goods in the Documents shall be a Free Zone Licensee"; documents MAWB/HAWB, commercial invoice, certificate of origin, packing list, delivery order. Mainland duty: the GCC exempted list's gold line is printed "71060000" (silver's heading) [summary][blocked]. Cross-border disclosure: see ae.doc-pm-disclosure-ae. [unconfirmed] Neither Dubai Customs guide names the declaration type for gold into a DMCC company or the DMCC Vault. [conflict] Supporting documents are due within 14 days (Customer Guide s.15.7) or 30 days (Service Guide v9 App. A) - see ae.div-customs-doc-deadline. KPMG (secondary): periodic "Goods Consumption within FZ" declaration under Dubai Customs Notice 17/2020.

• Dubai Customs Customer Guide v3.03; Dubai Customs Service Guide v9; Federal Decree-Law 10/2025, Customer Guide s.15.12.2 (FZ Transit In), App. J (DMCC declarations at the Customer Service Center at DMCC); FDL 10/2025 Art. 10 (cross-border disclosure)

Import VAT: registered importer accounts for VAT on its own return (reverse charge); investment-grade gold is zero-rated, doré is not

من

DMCC importer / trader

يُصدر

Import VAT accounted on the importer's own VAT return (registered importer)

Investment precious metals = gold, silver or platinum of 99% purity or more, in a form tradeable in global bullion markets (ER Art. 36(2), not amended in the consolidation to CD 100/2025); their supply or import is zero-rated (Art. 45(8)). [inferred] Doré below 99% does not qualify. [unconfirmed] DMCC's absence from the Designated Zones was checked only against the 2017 list (secondary copy). [not-read] FDL 16/2025 amendments (from 1 Jan 2026) not held.

• Federal Decree-Law 8/2017 on VAT; Executive Regulation (Cabinet Decision 52/2017, as amended; consolidated to CD 100/2025), Law Art. 45(8), 48(1), 49; ER Art. 36(2), 48(1), 48(5), 50(1)

If the importer sells the doré to the refiner (rather than toll-refining it): refiner gives two written statements before supply; importer issues a tax invoice without VAT (reverse charge)

من

DMCC importer / trader

يُصدر

Refiner's two written statements: VAT-registered, and buying to resell or use in production; Tax invoice without VAT for the importer-to-refiner sale

[inferred] Conditional: the model reads the reverse charge as not applying where the refiner only toll-refines metal the importer keeps title to; the sources read do not address toll refining.

• Cabinet Decision 127/2024; VAT Executive Regulation, CD 127 Art. 2(1), 2(3) (two written declarations before supply; supplier keeps them and verifies registration), 2(4) (no declarations: no reverse charge); ER Art. 59(1)(l)

Deposit refined bars into DMCC Vault (operated by Brink's)

من

DMCC Vault (operated by Brink's)

يتطلب

Manufacturer certificate accompanying UAEGD bars (states year of manufacture if not stamped)

يُصدر

DMCC Vault deposit/withdrawal receipt; DMCC Tradeflow warrant (optional; used for pledging and title transfer)

DMCC: the Vault is "Owned by DMCC and operated by Brink's Global Services" and "DMCC can assist with all customs processes". [not-read] Deposit/withdrawal documents and any bonded status of the Vault are not published; the receipt document is inferred.

Reconcile the provisional (origin) assay against the Dubai refiner's outturn assay: within the contract's splitting limit the two assays are commonly averaged; beyond it an umpire assay decides (the assay closer to the umpire's is used, and the party further from it pays the umpire); settle the difference and pay the final balance

من

DMCC importer / trader

يتطلب

Refiner outturn/assay report; Commercial invoice

يُصدر

Final invoice from the Nigerian exporter (against Dubai outturn assay); Reconciliation of provisional vs outturn assay; Balance/final payment wire; DPMSR filed in goAML for the final settlement

[unconfirmed] Debit and credit notes are not described in the two contracts read; the Johnson Matthey contract settles by metal credit, adjusted after the umpire result.

• Refining/sale contract settlement clause -- splitting limit + umpire assay if the two figures diverge beyond it

Receive payment within three months (90 days) from export or when contractually due

من

Gold exporter (FGR or other gold dealing licence holder with RBZ approval)

يُصدر

Receipt of export proceeds

• Exchange Control Regulations SI 109/1996; Exchange Control (General) Order SI 110/1996; RBZ FX Guidelines FXD5/2026, Regulations ss.5, 21; General Order s.13(2) ('within three months from the date of export'); Guidelines para 3.2.2

Pre-acquit the Form CD1 within 48 hours of receiving the proceeds

من

Authorised dealer bank

يُصدر

CD1 acquittal (proceeds received)

• RBZ Foreign Exchange Guidelines FXD5/2026 (version 2.0, March 2026), para 3.2.7

Sell 30% of gross proceeds to the RBZ at the weighted-average willing-buyer willing-seller interbank rate; the exporter keeps 70% indefinitely (50% surrender where proceeds were overdue)

من

Authorised dealer bank

يُصدر

Sale of 30% surrender portion to RBZ at the WBWS interbank rate

[unconfirmed] Whether the general 30% surrender applies to FGR's own gold export proceeds is not stated. The February 2026 MPS (para 233) keeps 70% retention for all sectors 'with the exception of small-scale gold producers, whose retention shall be 90%'.

• RBZ Foreign Exchange Guidelines FXD5/2026 (version 2.0, March 2026); FXD5/2026, FXG para 3.2.3; FXD5 para 2.2